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Meeting with a financial planner often sparks some of the most important questions. When it comes to retirement, there’s a lot to consider. But time and again, we hear the same two questions: “Am I going to be okay?” and “What rate of return do I need?”

Do you have enough to retire? If you do, or even if you don’t, how hard does your money need to work for you once you’re no longer working for it?

In this episode of Money Wisdom, Jake Doser, CFP®, CPWA® and Nicholas J. Colantuono, CFP® unpack these two key questions and what they really mean for your financial future.

Question 1: Will I Be Okay?

Everyone’s version of “okay” in retirement is different. Some people know exactly what they want, while others can’t quite articulate it yet. That’s not a dealbreaker, but it does make the target harder to define.

When clients come in, we usually start by asking: What do you spend each year? And what do you want retirement to look like? Do you see yourself owning a second home? Traveling? What’s your health situation? Are you supporting a parent or adult child? This is what we call soft data: not just numbers, but also context. It’s about your lifestyle.

Start by determining whether your goals are realistic. Then, let those goals guide your investment choices, your expected rate of return, and your risk tolerance. The key is to know what’s coming in, what’s going out, and what the difference is.

Next, we look at what assets are working for you, whether that’s traditional retirement accounts, Roths, pensions, or other income sources. As we figure out which pieces fit in this puzzle, we can start building your plan.

Question 2: What Rate of Return Do I Need?

This question isn’t so much about the return you want, but rather the return you need to make your plan work. If you don’t take on enough risk, inflation can quietly erode your purchasing power. On the other hand, if you take on too much risk, you may experience losses that you can’t recover from. The goal is to find the right balance between growth and safety.

Once we know what you have, what’s coming in, and what’s going out, we can calculate what target rate of return your portfolio needs to provide, tied directly to your lifestyle and goals. The markets may be unpredictable, but your income shouldn’t be. The right plan is tax-efficient, risk-aware, and built to last.

For many of our clients, it’s not just about themselves. They’re also thinking about their loved ones and charities or organizations they care about. If leaving a legacy is part of your vision, it needs to be part of your overall retirement plan as well.

Are you wondering if you’re ready to retire? Get your free Are You Ready to Retire? Starter Kit by texting “KIT” to 800-757-0436.